AEG vs FNGD: Correlation
Aegon Ltd. New York Registry Shares (AEG) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) show a negative relationship: their 3-year correlation of weekly returns is -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEG and FNGD?
On 3 years of weekly data the AEG/FNGD correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.36, and annualized covariance runs at -743.5 %².
Among the 10 assets we track against AEG, FNGD sits near the bottom by co-movement, at rank #8. The last year tells two different stories: AEG led by 76.3 percentage points, +20.6% for AEG against -55.7% for FNGD. Risk is not evenly split, since FNGD carries 3.1 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AEG vs FNGD: side by side
| AEG (Aegon Ltd. New York Registry Shares) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +20.6% | -55.7% |
| 5-year return | +132.6% | -99.4% |
| Volatility (ann.) | 24.5% | 75.7% |
| Beta vs S&P 500 | 1.00 | -4.54 |
| Max drawdown (3Y) | -18.4% | -97.6% |
| Market cap | $13.6B | – |
| P/E (trailing) | 12.2 | 20.6 |
| Dividend yield | 4.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEG | FNGD |
|---|---|---|
| 2022 | +6.5% | +52.2% |
| 2023 | +21.2% | -90.1% |
| 2024 | +8.4% | -76.6% |
| 2025 | +35.1% | -61.4% |
| 2026 | +22.2% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEG and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between AEG and FNGD?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.33 over the last year and -0.36 over 5 years.
Is FNGD a good diversifier for AEG?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: AEG correlations · FNGD correlations
